020 7898 0500In contrast to the UK, the US GDP growth rate for the first quarter of 2018 came in better than expected at 2.3%. The other release of note was the University of Michigan’s consumer sentiment which also came in above expectations; it had been forecast to come in at 98, but the figure was actually 98.8.
The dollar made some solid gains against sterling as a result and it was a fine week for the greenback. It has now gained almost six cents against the pound since 16 April 2018. How quickly things can change! Remarkable really.
Today we have the personal income reading for March and tomorrow we will see manufacturing PMI for April. However, next week is all about the Fed’s interest rate decision which is due on Wednesday.
